10th Mar 2026 14:09
(Alliance News) - Tap Global Group PLC on Tuesday announced its acquisition of XTP cryptocurrency tokens valued at approximately USD1.8 million, at no cost, in a related-party transaction.
In response, shares in Tap Global were 13% higher at 1.30 pence on Tuesday afternoon in London.
The London-based cryptocurrency payment and settlement operator acquired the tokens from Tap N Go Ltd, which is controlled by Chief Executive Arsen Torosian.
Tap Global said the deal provides it with a significant strategic reserve to deploy across multiple growth initiatives, like customer acquisition incentives, trading volume promotions, and partnership development.
Additionally, Tap Global said the new tokens give it one of the largest token treasuries of any AIM-listed company, and reinforce its "mutually beneficial relationship" with the XTP ecosystem. Its treasury also includes 6.14 bitcoin tokens.
The company said XTP has been available for trading on the Tap platform since its launch in 2020, and is one of its most actively traded tokens with over 32,850 users, "demonstrating the high level of existing and potential future synergy."
"Acquiring three billion XTP tokens valued at USD1.8 million at no cost to Tap Group is a great deal for the company and its shareholders," commented CEO Arsen Torosian. "This acquisition gives us a powerful strategic asset that we can deploy to accelerate user growth, drive trading volumes, and deepen engagement across our platform.
"As the owner of Tap N Go, and as Tap Group's largest shareholder, I believe we can create more value for both Tap Group shareholders and XTP token holders through this transaction and alignment. XTP has always been deeply intertwined with Tap's platform, and this acquisition cements that relationship.
"Our aim is to build the biggest crypto bank, and this is another milestone on that journey."
By Emma Curzon, Alliance News reporter
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